STI not looking good. Gap up in morning occurred as expected; however, it did not manage to breach 2,700. Very frothy; a lot of churning going on. The pennies appear to be plateauing, which should not be the case since the DJIA went up quite strongly last night (though did not manage to break 9,800.)

Afternoon session will be critical: the opening of Europe should give a fillip. 2700 must be broken for uptrend to renew. if it does not, that too, is a signal. Again and again, all the blues must go up. Thus far, only the banks and kepcorp (signifying manipulation of the STI especially in light of lower vols relative to previous month)

if we do not break 2700 in the next 10 trading sessions (or if market drops below 2,600 by then), then investors would be wise to hunker down for the winter of Oct, which is traditionally a weak month for stocks.

Remember that Wall Street insiders have been selling at the highest rate for this year.

Otherwise, whispers in the local circle indicate that for the controlled pennies, insiders and props are almost done or done with their play already. The deadlines coincide: end of September. Hence, do not believe analysts' bullish calls that are issued later this month, especially if you read their actual FA reports, and it does not tally. If you're putting your money in, do some research.

Watch the UJ pair for significant moves at 90. Critical movement for equities will occur then.

Caveat applies to the above. When everyone is insanely bullish, it is perhaps time for the wisdom of bears to go into hibernation.